Cancelling IVA and moving to DRO

Lin850

Hi ExperHR, 
how are you getting along with this?, i would like to do the same, I am approaching my 1st yr on an iva, i was not eligible for. DRO to begin with but now the ctiteria has changed i am. The struggle is rea, i think i miss judged my budget. I think a DRO is the way to go just waiting on review to see if there is anything i can do or they it is better in switching. 

The bit im worried about is once iva is cancelled there is no guarantee in being excepted for DRO , the lady at stepchange heard my story and said it sounds good grounds though. 

ExperHR

Right guys, I must update you...

I ended up letting my IVA fail, owing approx. £29,800.00 to all creditors. I received my termination certificate two weeks ago. 

I went straight into breathing space and started to contact my creditors to get up to date balances which totalled £29,890.00. 

Yesterday, my DRO application was submitted to the Insolvency Office and I'm awaiting it's approval. I have my fingers crossed that it won't be rejected, or if any other debts show up their end when checking my credit file.

Step change have been fantastic, and acted on my case very quickly.

I'm hoping I will have notification of the DRO acceptance over the next few days...

 

Lin850

Hey! Ive just logged back into forum
to see any updates or new news.. how did it go? Did dro get excepted?!